Varicose Vein Treatment Market Size Forecasts 2035

Global Varicose Vein Treatment Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Varicose Vein Treatment Market size is anticipated to reach USD 4 Billion by the end of 2035, observing a growth of 9.9% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of varicose vein treatment was around USD 1 Billion. The market growth can be attributed to the increasing number of elderly people who are prone to different types of varicose veins. Further, the growing prevalence of R&D activities in the field for compression and newer technologies for the treatment of varicose veins across the globe will add to the market expansion.

Additionally, soaring investments, and collaboration between major industry players to discover effective treatments for varicose veins will boost the market demand. For instance, on October 2021, the FDA granted a 510k clearance to VenClose Inc., a privately owned Silicon Valley medical device company focused on innovative treatments for venous reflux diseases through novel catheters of radiofrequency ablation known as MavenRFA that can be minimally invasive in treating hypo perforator vein.

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Varicose Vein Treatment Market: Key Insights

Base Year	2022
Forecast Year	2023-2035
CAGR	~ 9.9%
Base Year Market Size (2022)	~ USD 1 Billion
Forecast Year Market Size (2035)	~ USD 4 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Global Varicose Vein Treatment Sector: Growth Drivers and Challenges

Growth Drivers

Increasing Varicose Vein Global Burden – Estimates show that 23 % of US adults are affected by varicose veins. The market for treating varicose veins worldwide is being driven by advances in patient compliance through sustainability and security techniques to manage a large burden of varicose vein incidents and better access to medical devices related to this disease.
Surging Preference for Minimally Invasive Treatment Procedures – In recent years, minimally invasive surgery has seen a marked increase in demand due to its faster recovery period and less risk compared with other surgical procedures. On January 1^st, 2022, research was conducted to understand the clinical efficacy of radiofrequency ablation for varicose vein treatment in patients. Results of the researchers predict that intraoperative blood loss was significantly less and clinically effective.

Challenges

Shortage of trained vascular surgeons - The increasing concern amongst hospitals and patients associated with the shortage of vascular surgeons and skilled professionals is one of the major factors predicted to slow down the market growth.
High cost of treatment procedures
Inconsistent reimbursement structure

Varicose Vein Treatment Segmentation

Product (Ablation Devices, Sclerotherapy Injections)

The ablation devices segment is estimated to dominate 35% market share by 2035, attributed to increasing adoption of laser ablation devices in the treatment pathway.

The increased convenience and ease in the use of ablation devices are poised to contribute to the growth of the segment. A research study demonstrated that laser ablating therapy was cost-effective and the preferred first treatment for asymptomatic varicose veins which had a diameter of not less than 3 mm.

Procedure (Injection Sclerotherapy, Endovenous Ablation, Surgical Ligation)

The injection sclerotherapy segment is set to grow at a significant CAGR till 2035. The benefits of this treatment, including less bruising and scars, absence of anesthesia, shortened hospital stays, simpler follow-up procedures, and favorable reimbursement policies are the main reasons why it is dominating the market share.

In addition, patients who are receiving injections of sclerotherapy in the U.S. can be covered by Medicare. A number of organizations set up campaigns in support of the awareness and use of different treatments every year. This, as a result, is anticipated to create numerous opportunities for the growth of the segment.

Our in-depth analysis of the varicose vein treatment market includes the following segments:

Product	Ablation Devices Sclerotherapy Injection Others
Procedure	Injection Sclerotherapy Endovenous Ablation Surgical Ligation

Varicose Vein Treatment Industry - Regional Synopsis

North America Market Forecast

North America varicose vein treatment market share of about 34%, amongst all other regions, is projected to be the largest by the end of 2035. This domination can be attributed majorly to the increasing number of well-developed healthcare systems in the United States. Further, the presence of a large number of key players in the region, enables products to be more widely available on the market.

Moreover, the people of the United States may avail themselves of this treatment at a low cost as a result of favorable reimbursement conditions. The disease burden of varicose veins in the USA is also expected to contribute to the growth of the market.

Also, the presence of a strong healthcare network in the region, along with the availability of supportive policies by the regulatory bodies that promote the market players to opt for easy testing of drugs over a large target population so as to develop efficient treatment options.

APAC Market Statistics

The Asia Pacific market is predicted to register substantial growth rate through 2035. Due to the large population and healthcare infrastructures, the Asia Pacific region offers a lucrative growth opportunity for key players in the market. In addition, the region's expanding healthcare industry and rising innovation and product launches in the field of varicose veins are also anticipated to boost the industry growth.

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Companies dominating the Global Varicose Vein Treatment Landscape

Candela Medical
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis

Medtronic PLC
Boston Scientific
El. En SpA Group
Teleflex Incorporated
Eufoton SRL
Biolitec AG (BioMed Technology Holdings Ltd)
AngioDynamics Inc.
Alma Lasers Ltd
Sciton Inc.

In The News

Medtronic has initiated an Investigation Device Exemption study for the assessment of the efficacy and safety of the Abre Venous Self-expanding Stent System intended to treat Deep Lymphocytic Diseases in order to establish its effectiveness and safety. It is likely that this study will be conducted at 35 locations across the United States and Europe, involving about 200 subjects.
IVASC, an Italian medical device company, completed a EUR 1.8 million Series A investment in April 2022 for the launch of its VELEX product. VELEX, which received CE Mark in May 2021, is a device that can be used to treat CVI and varicose veins with a procedure called Empty Vein Ablation (EVA).

Global Economic Impact

Request Insights

Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the varicose vein treatment market?

Ans: Increasing geriatric population, rising burden of varicose veins, and new product launches are the major factors driving the market growth.

2) What would be the CAGR of varicose vein treatment market over the forecast period?

Ans: The market size of varicose vein treatment is anticipated to attain a CAGR of ~9.90% over the forecast period, i.e., 2023 – 2035.

3) What are the challenges affecting the varicose vein treatment market growth?

Ans: Lack of skilled vascular professionals and high cost of treatment procedures are estimated to be the growth hindering factors for the market expansion.

4) Which region will provide more business opportunities for growth of varicose vein treatment market in future?

Ans: The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

5) Who are the major players dominating the varicose vein treatment market?

Ans: The major players in the market are Candela Medical, Medtronic PLC, Boston Scientific (Lumenis Corporation),El. En SpA Group (Quanta System), Teleflex Incorporated, Eufoton SRL, Biolitec AG (BioMed Technology Holdings Ltd), AngioDynamics Inc., Alma Lasers Ltd, Sciton Inc.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the varicose vein treatment market?

Ans: The market is segmented by product, procedure, and by region.

8) Which segment captures the largest market size in the product segment in the varicose vein treatment market?

Ans: The ablation devices segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.